Western Australian Current Acts

PAWNBROKERS AND SECOND-HAND DEALERS ACT 1994 - SECT 42

42 .         Pawn tickets

        (1)         Before lending any money under a contract, a pawnbroker must ensure that a written statement under this section and a copy of the statement are signed by, or on behalf of, the pawnbroker and by the other party to the contract and that the statement is given to that other party, without charge.

        Penalty: $2 000.

        (2)         The statement is to —

            (a)         set out the details recorded under section 41(a) to (j) inclusive; and

            (b)         inform the other party —

                  (i)         of the pawnbroker’s obligation under this Act to keep the pawned goods for at least 3 months or such longer period as the parties may agree;

                  (ii)         that the goods can be redeemed at any time before the sale of the goods; and

                  (iii)         of the party’s right to any surplus on the sale of the goods after deduction of interest and charges.

        (3)         Each of the statement and the copy is to bear the original signature of the persons referred to in subsection (1).

        [Section 42 amended: No. 46 of 2006 s. 15.]